I get a lot of questions and am interviewed on radio and television about what people should do in these troubling times. I decided this time to tell you what I am doing instead of just telling you what you should be doing. Maybe you will find something in what I am doing that can help you when making decisions about your own life. These are things I am doing personally, in a few weeks I will give you the five things I am doing professionally. Hope you enjoy this blog and learn something as well. If you see something you like, please help both me and your friends by sharing this blog with others.
Five Things Larry Winget Is Doing Personally In Challenging Times
1. I am being realistic. Things are never going to be like they were. My business, in fact, my entire industry has changed forever. Chances are that yours has changed forever too. Technology has changed the way we do business in every way. I find it easier and cheaper to order toothpaste from Amazon than picking it up from the grocery store. People would rather read a book on a computer than to hold a real book in their hands. I watch more movies and television and listen to more music on a device the size of a pack of cigarettes than I do on my 60 inch flatscreen with stereo system attached. I never would have believed that technology would have made such a difference in the way we all think, shop, how we are entertained and educated. Technology has changed the way I make money. It’s not enough to stand on a stage now and talk or to write books, it takes technology for me to survive financially. Bet the same applies to you. And technology will change our world even faster and in bigger ways in the future. I fought this for a while and in some ways, I will continue to fight certain areas of it in my personal life. However, I am realistic about it and know that my life and my business have to adjust to deal with the changes and the technology.
I am also realistic about the state of the union. Yes, our country. We are in trouble. I mean serious, serious trouble. I love my country and have great faith in our strength when we pull together. However, we don’t pull together very often anymore and from what I can tell, we don’t even want to. I am no longer as optimistic as I once was about our possibilities. And while I am not a full-on pessimist yet, I have become a realist.
2. I am constantly defining and redefining my priorities. Time, energy and money always go to what is important to you. I have said this for years and believe it completely. Read my books for more details on my thinking regarding this idea. The same principle applies to me. My age, my family, the turbulent economy, the amount of free time I have and want to have and many other factors cause me to look at my life differently than I did just a year ago. Much of what used to be important to me has lost its appeal. Spending more time with friends and family and doing/experiencing things I have missed by working too much to enjoy have become more important to me now. And while I have never much cared about what people thought, I am more that way than ever before. I live my life on my terms, making sure that my actions are in alignment with my principles, my goals, my words and my beliefs and honestly don’t give a rat’s ass whether people like it or not.
3. I am watching my money.
Spending: I don’t know of anyone regardless of their income who is spending like they did a few years ago. Income is harder to come by these days for everybody at every level. So while there was a time a few years ago where I never gave what I was spending a second thought, now I give it a third and a fourth thought. Every responsible person should do the same in these chaotic economic times.
Saving: While I have always been a saver, I tuck away a larger percentage of my income now than I used to. Why? Because the future is more uncertain for everyone than it used to be. Having higher reserve funds is going to be more important in the future than it has ever been before.
Cash. I have always been a big believer in having cash on hand, but now I stash extra twenties away more than before. I have a cigar box and a big gun safe that is well protected so it’s all very secure; but even if you don’t have those things you should be tucking away some bucks someplace. Besides, if the power goes out, that ATM machine isn’t going to do you much good and your credit cards aren’t going to be much consolation either.
Investments: Diversification in your investments is now more important than ever. If you have the cash to buy real estate, it hasn’t been this cheap in a long, long time. Gold and silver still seem to look good but I wouldn’t sell everything to buy it like some are doing. However, a portion of your portfolio in precious metals makes sense. Mostly, I am reminding myself what any smart investor knows; investments are long term. And now, really long! Stop checking your money every day, every week or even every month and take a deep breath. Don’t react emotionally to this chaos. Investments are for the long haul and if you are trying to time the market to make a fast buck, you are crazy, just like the market.
4. I am preparing. I have written in my books, “Expect the best, but be prepared for the worst.” I think most of us are great at expecting the best and do very little to prepare for the worst. This is evidenced by people’s saving accounts! But I think it’s time to take preparation to the next level. Therefore, I have become a prepper. No, I am not one of those wacko survivalist youtubers by any stretch of the imagination. However, as I said earlier, I am a realist. Our economic system worldwide is a disaster. The US is so upside down on its debt, with no solution at hand to fix any of it, that I am not seeing a good way out of our mess right now. I don’t think our entitled citizens are above revolting like we have seen in France, Greece and the UK. Natural disasters are increasing causing power outages and other issues that either force people to leave their homes or force people to stay in their homes. A report this week by the government said that our power grids are particularly susceptible to hackers. Our borders are weak and our enemies are strong and sneaky. There are many people and nations who simply don’t like us and wish us harm, along with many individuals right here in our own country. We are vulnerable on many levels. Even FEMA suggests that every person have at least three days worth of food and water stored in case of emergency. Our grocery stores do not carry enough food to last three days if they lose power. So what happens to you and your family if your area loses power for a week, or even a day? Or if a natural disaster hits your area? Or if there is a revolt due to economic collapse? Are you prepared?
If you live in a climate where there is snow, you know you should put a blanket and some sand and other supplies in your car in case you get stuck in the snow. You probably carry a jack and a spare tire and jumper cables in your car ‘just in case.’ Yet that is most people’s entire level of preparedness. Most people don’t have enough food in their homes to make dinner tonight. If every fast food restaurant in their neighborhood closed for the day they wouldn’t even be able to have dinner tonight. That’s dumb, naïve and irresponsible. I have food and water put away to last my family for six months. It’s easy to do and not much money. I have a generator and plenty of gas to keep it running for months. I can cook even if all power is gone. I can defend my family and my property if needed. I am prepared in every way I can think of, not out of fear but because I am smart and have taken the time, the energy and the small investment it takes to care for my family ‘just in case.’ You may think this makes me a crazy survivalist, I think it just makes me a responsible person. And while I hope none of us ever have to be tested in these regards, I won’t be one of those guys who looks back in regret because I couldn’t be bothered with it or was afraid of how it looked or sounded to others.
5. I am focusing on right now. The future is determined by what you do now. That applies to your money, your health, your relationships and your career. Work hard at your job today. Eat healthy today. Exercise today. Be nice today. Have high standards for yourself and others today. Expect more from yourself today. Save today. Spend wisely today. Prepare today. Enjoy today! Today is all you have, give it everything you’ve got!
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Love this post, Larry, and agree with everything. I try to be prepared as well, although six months of gas is a little tough here 😉
Yes, there is no way out except collapse and turbulance. It’s pretty evident where we are heading, but most people still hold onto that blind optimism – the “we’ll get through it – we always have” mentality. I disagree – truthfully, I feel the whole “middle class” that we so dearly hold onto is a myth anyway, brought about by the perfect storm of WW2, the GI Bill, a baby boom, and the rest of the world as our customers for a few decades. Never before in history has there been a “comfy” middle class. It’s an anomaly that we hold onto, though. I could go on and on ranting.
Again, great post, Larry.
Hello, this is Poland. I got Your book: “Shut up…” and I am reading it now. I had never supposed, that telling truth, what You are doing, will give me such kick. Living is not hard. Hard is to live a real life – whatewer it means for anyone. I have always knew it, but never realized it.
About Your article – the fifth point is what I needed now, what I needed today. Thank You for that. I wish You all, what is the best.
You said, “Most people don’t have enough food in their homes to make dinner tonight.” Is this really true? I can’t imagine this.
Your point of “preparing” is probably the easiest one to implement right away, but would be one of the most important if it was ever necessary. Thanks for the reminder.
Dan, I don’t have enough gas to keep all of my cars running for six months but I keep enough on hand to keep my generator running for six months. In a time of crisis, you wouldn’t be out running around in your car anyway, you just need enough to keep your generator running or to get out of town if you can. Aneta, glad you found the point that spoke to you today and thanks for reading my books. Lindsay, yes it’s true. Most people don’t have enough in their pantry to make dinner. That is unless you want a random can of pumpkin pie filling, a pop tart and some frozen peas. And you are right, it is so easy to implement and the cost is not that much.
Thanks Larry.
Six months of food and water?! You preparing for a zombie
That is the definition of hoarder…
Folks, here is the link for the 72 hour MRE emergency box I own and have purchased for every family member. I don’t get a commission or a cut or any product in return. This is an honest endorsement of a product every person should have set aside that I have personally tried.
Great post, and really made me think. It made me think I want to stock up. What foods do you suggest stockpiling (frozen is right out; if the electric goes…so does the food) for a 3 to 6 month reserve? And how do you stockpile months’ worth of water? The plastic bottles tend to have shelf lives.
Thanks!
I’d like to agree with your post on facebook about knowing somebody abusing unemployment. I work with an employee who claims unemployment during the winter months since we are a seasonal business. The kicker is he tells somebody he moves snow in the winter time and gets paid cash so he doesn’t have to report it and the final kicker is his wife is a doctor and makes well into the 6 figures for income. I’m sure glad our tax dollars are going to pay this guys unemployment for a few months.
BG – that is NOT the definition of a hoarder. It is the definition of a prepper. Big difference. I know there are people who won’t agree with my preparations and even some of my friends think I may have “over prepared.” But they will be the first ones at my door seeking help when things go south. They have even said that. There are many appropriate cliches that apply: “Better safe than sorry” is a good one. And what is the worst that could happen? That I have food that I can eat and water I can drink? I can live with that – but I can’t live without it.
Mary – I buy a lot of freeze dried from Emergency Essentials. Mountain House is a great brand. Try some of the individual packets to see which ones you like before trying the #10 cans. You can also buy a sampler box of Mountain House at Costco for about $30. And Costco and Sam’s carry many freeze-dried options as well. You don’t have to go crazy with any of this stuff. They sell a 72 hour MRE kit for $32 that you should at bare minimum have for each individual in your house.
By the way, I don’t get a dime from these people. I found them all on my own, sampled their products, liked it and bought it full retail just like any other person. I feel better knowing I am prepared. Peace of mind is worth it to me.
Never mind, Larry — I went to the beprepared web site and lo and behold, there was boxed water! Thanks!
Thanks, Larry (and while trying the stuff first is a good idea, guess what? If a person is hunger enough, they’ll eat what’s available!). The food tips are great. Any suggestions on water storage?
Oh, and people, don’t forget to stockpile food for your pets! And litter for your catboxes!
Larry, fair enough.
If I were to stock pile six months of edibles, it would be nearly 90% in the form of beer. It is a liquid and a bread, and it doesn’t need to be refrigerated. Plus, if the world goes to sh¡t…at least you have six months of beer.
Great post Larry – keep it up!!
Not to get political here but I know I don’t want the crazy regime changes people are talking so much about for the next election. Too many candidates have the idea that if they just starve out the poor, incarcerate or fry the criminals and deport the immigrants, and then disassemble the government, the country will be fine again. I doubt that.
I also wonder what will happen with all the spontaneous protesting against Wall Street–which the NY Times and Washington Post are refusing to cover. Was just reading a George Kennan article from over 60 years ago talking about how the Tsar’s government fell after spontaneous demonstrations the Russian soldiers refused to quash and even joined. Just what we saw in Egypt recently. But in NYC, the police are bashing people. When the police join the protesters, we’ll know our country current governing system is done for. Kill the middle class and that can happen.
Oh, and sure, we’ve got emergency water, a gun and ammo, and plenty of food we know how to cook. Just give me a heat source and some flour, and no one goes hungry.
How long will we let the media control our thoughts? Bless you for your views Larry, lets help inform all those brave and misguided protesters that the real problem has become politicians bought off by special interests groups not “Wall Street”!!!!! though they are certainly inline as next culpable in this scenario!
Great article! Agree 100%
Prepping is not hoarding – it’s preparing for the unknown, unstable future of America.
Especially love #5 it’s what we do TODAY that determines the future.
Larry,
Thanks for your common sense. I’ve lived by these standards all my life and it really does give one a sense of comfort. I was taught at home to never take anything for granted, especially money. So, I have always saved at least 20% of everything I ever made. I also have bought small quantities of gold and silver each year for the past 30 years, and now that I’m retired, it is serving me very well.
Great advice from a wise man!
Larry this one you will love. I’m sick of the people that “can’t find a job” also. I say to my employee why don’t you come in this weekend and work a few hours. His response “what’s the incentive to work the weekends when you will just send me home early one day this week so I won’t get any overtime pay. He might get sent home to cut a few hours overtime pay but he will still get a few. He get’s paid $12.60 an hour and $18.90 overtime sitting on a mower to mow grass on a golf course. Oh yea he just asked me for a raise a few weeks ago and I almost couldn’t control myself looking at your picture I have of you hanging in my office.
Thanks for any response.